Sotheby's International Realty Canada

Sotheby's International Realty Canada

July 18, 2016 08:00 ET

Luxury Condominium Sales Set Three-Year Calgary Real Estate Record

Sotheby's International Realty Canada Sells $8.4 Million and $5.1 Million Luxury Waterfront Condos at THE RIVER, as Activity Rises in Calgary's High-End Real Estate Market

CALGARY, ALBERTA--(Marketwired - July 18, 2016) -

Editors Note: There are five photos associated with this press release.

Sotheby's International Realty Canada today announced two noteworthy sales, setting new records for the highest sold price for condominiums sold in Calgary on MLS over the past three years. The 5,000 square foot and 3,000 square foot condominiums sold for $8,389,500 and $5,145,000 respectively. Both are part of THE RIVER, an esteemed luxury estate development by 26th Avenue River Investments Inc., a dynamic affiliate of Ledcor Properties Inc.

These record sales take place at a time when Calgary's high-end real estate market is showing signs of increased sales activity, a trend that began in late spring of 2016. A 9% year-over-year increase in the sales volume of residential real estate over $1 million for the first half of 2016 was recently reported by Sotheby's International Realty Canada's 2016 Mid-Year Top-Tier Real Estate Report.

With floor-to-ceiling windows, these luxurious suites feature iconic views of the Rocky Mountains, Elbow River and downtown skyline. The expansive floor plans boast a gourmet kitchen with top-of-the-line appliances, a private media room, study area, and a large dining space. Two spacious outdoor living areas overlook one of Calgary's most vibrant neighborhoods. Additional building amenities include a 24-hour concierge, guest suite, executive boardroom, fitness centre, entertainment suite, chef's catering kitchen, and a pet and car wash bay.

"I've seen signs of renewed activity and interest in the market over the past few months," said Anne Clarke, listing agent with Sotheby's International Realty Canada. "More clients are engaging in the market, due to increased confidence in the future of Calgary and Alberta."

"These are notable sales for the local real estate market," said Mary-Ann Mears, Managing Broker of Sotheby's International Realty Canada in Calgary. "They indicate increased interest and activity in high-end real estate, and demonstrate that discerning buyers recognize quality opportunities and have confidence investing in Calgary."

About Sotheby's International Realty Canada

Combining the world's most prestigious real estate brand with local market knowledge and specialized marketing expertise, Sotheby's International Realty Canada is the leading real estate sales and marketing company for the country's most exceptional properties. With offices in over 30 residential and resort markets nationwide, our professional associates provide the highest caliber of real estate service, unrivalled local and international marketing solutions and a global affiliate sales network of approximately 845 offices in more than 63 countries to manage the real estate portfolios of discerning clients from around the world. For further information, visit www.sothebysrealty.ca.

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